"It has been a quarter of good progress as we continue to construct our Woodsmith Mine, as well as breaking-ground on Teesside. Work to deliver the stage two financing continues at pace and we are delighted to add a new, well established customer, in the high potential African region, to our growing list of partners.

"The economic and social benefits to our nationally significant infrastructure project are vast, as recently illustrated by QUOD's independent economic impact assessment, and we look forward to delivering theseimportant and long-lasting benefits to both national and local economies.

"With commercial momentum and the development of our world-class mine continuing to progress well, we remain confident of delivering on our key milestones for 2018 and ultimately delivering on our vision to be a world-class fertilizer business."

Safety

The project's Lost Time Injury Frequency Rate ("LTIFR") stands at 4.4. The LTIFR is a measure of lost time incidents per million man-hours on a twelve-month rolling average basis. The Company is working closely with its contractors to continually improve the safety culture at all locations.

Sales and Marketing

The Company signed a seven-year supply agreement with Intercontinental Trade DMCC Dubai, a global trading company with an active presence in Europe, Africa, the Middle East and Asia, for volumes of POLY4 ramping up to 350,000 tonnes per annum in year four. Taking this agreement into consideration the Company's aggregate peak contracted volumes has increased from 4.4 Mtpa to 4.7 Mtpa.

The Company has undertaken to achieve a target level of circa 6.5 Mtpa of supply agreements in 2018. Sirius' current priority is to conclude agreements in the key markets of Western Europe and Brazil. Commercial discussions are well advanced with multiple customers in each of these regions and the Company is confident of delivering on this milestone. A number of opportunities in other regions of the world are also being progressed.

A total of 56 new crop trials have been initiated during 2018 bringing the total trials to over 320 covering 35 different crops in 23 countries.

Stage 2 financing

The initial bank due diligence process commenced early in the second quarter and has been ongoing with potential lenders reviewing the Company's information package and engaged with their independent consultants. A number of bank responses have been received with further responses due to be received over the coming weeks. The quality of the responses received so far has been positive. Once all responses have been received the Company will progress discussions with both potential lenders and the Infrastructure and Projects Authority to finalize the financing. The Company is on track to achieve financial close in 2018.

Procurement

The Company is currently in the process of evaluating proposals for each of the outstanding major scopes of work for the project. These include the materials handling facility, port infrastructure, MTS fit out and drives two and three of the MTS tunnel. The evaluation and optimisation exercise is now ongoing in conjunction with the commercial discussions associated with each package. These processes will continue into the next quarter and feed into the stage 2 financing process.

The opportunity to utilise the Redcar Bulk Terminal continues to be progressed in parallel with the option of developing a greenfield port facility at Bran Sands.

Construction progress

At the Woodsmith Mine site, diaphragm walling activities on the service shaft are complete and have now commenced on the production shaft. The excavation of the service shaft is scheduled to commence in the coming weeks. The initial 120m of the MTS shaft will be sunk using a Herrenknecht Vertical Sinking Machine ("VSM"). Preparation works, such as excavation of the guide collar, are in progress with sinking to commence during the coming quarter.

A ground-breaking ceremony, attended by the Northern Powerhouse Minister Jake Berry MP, was held at the Company's Wilton site on Teesside in late June to mark the commencement of piling work for the MTS tunnel portal. In addition to the portal construction, earthworks for support infrastructure such as power supply and welfare buildings is progressing. Tunnelling activities will commence once the portal construction is sufficiently advanced.

Cost and schedule

The project remains on track to deliver first production and commercial production on time. The Company has now entered the final phase of the procurement process involving cost and risk estimation which involves an iterative process of evaluating contractor scopes of work, commercial risk allocation and contingency requirements. In addition to this, the outcomes of this process are subject to review by the lender's technical consultant as part of the stage 2 financing process. The Company intends to provide the market with an updated estimate including contingency once binding financing commitment letters have been executed. This is anticipated to occur around the end of the third quarter of 2018.

21 Comments

"... As the ships moored and visitors climbed aboard, and as musicians sang shanties on the harbour bandstand, the weekend was declared officially under way.

But not everyone was intent on a grand entrance.

At Whitby Library, where an exhibition mounted as part of the festival weekend is examining the art and science of Cook’s voyage, Ahilapalapa Rands, a New Zealand-born Pacific Islander, confessed to feeling exposed.

“I’m very conscious here of being Hawaiian. Everyone knows how Cook died there,” she said, referring to the explorer’s fatal stabbing on his third voyage.

“I come in peace,” Ms Rands noted.

Given the history of colonisation that ensued, the anniversary of Cook’s original voyage, which departed on August 26, 1768, will not be celebrated with the same enthusiasm back home, she said.

“A lot of our own stories are papered over. People feel frustrated at that after 250 years, history is still a little out of balance.

“But I feel excited to be bringing a Pacific perspective into this weekend. These anniversary moments serve a real educational function,” she said..."

* Reduces construction risk and capital expenditure requirements during the current construction programme which will have stage 2 financing benefits

Sirius Minerals Plc ("Sirius" or the "Company") announces that its subsidiary York Potash Ltd ("YPL") and Redcar Bulk Terminal Limited ("RBT") have entered into a materials handling agreement ("MHA") under which RBT will provide port and ship loading services from its existing Redcar Bulk Terminal port facility. RBT and York Potash Processing & Ports Ltd ("YPPPL"), another Sirius subsidiary, have also entered into a long-term lease for land adjacent to the Company's existing port facilities for the Company's finished product storage facilities.

Chris Fraser, Managing Director and CEO of Sirius, comments:

"We are pleased to enter into this arrangement which reduces the complexity of our construction programme and ultimately helps to simplify our stage two financing plan which is being finalised over the coming months.

"By working with a local partner, we can develop our project and also deliver benefits to an existing established business in the Tees Valley. The RBT facility has been underutilised since the closure of the steel works and this agreement will ultimately help us deliver tremendous economic benefits for the region."

Garry O'Malley, RBT's General Manager, said:

"This is excellent news for Teesside and we're delighted to be working with Sirius Minerals on a project of such regional magnitude.

"It's another significant step forward in the continued resurgence of Redcar Bulk Terminal (RBT) and demonstrates the integral role we're playing in the regeneration of the South Tees site."

Materials Handling Agreement

RBT's port facility is located adjacent to the Company's Bran Sands site and is also a deep-water terminal capable of handling up to Capesize vessels. RBT has historically operated as a bulk import terminal in connection with the adjacent steel works that closed in 2015. Following the closure of the steelworks, RBT continued to operate, invest and grow into a multi-model terminal attracting a number of new customers and products. However, in order to handle POLY4 exports, some capital expenditure, predominantly ship loaders and conveyors, is required at RBT to facilitate the loading of ships with POLY4.

Pursuant to the agreement with RBT, Sirius will, as part of the Company's procurement plan that is currently being finalised, procure and install the necessary ship loading equipment and systems onto the RBT owned facility. RBT will operate and maintain the new equipment installed and owned by Sirius. The services are to be provided for a period of ten years from first shipment of POLY4, subject to customary extension and termination rights for YPL.

The agreement is for up to ten million tonnes per annum of production from Sirius. From the third year of production YPL will guarantee certain payments to RBT for a minimum volume of materials handling. The minimum volumes for such are set in line with the Company's POLY4 sales expectations. The rate payable to RBT for the materials handling services are based on flat rates (linked to inflation) with incentives for Sirius to utilise larger vessels. The rates are in line with Sirius' existing operating cost expectations.

The arrangements with RBT provide flexibility for the Company through the utilisation of existing port infrastructure which leads to capital expenditure savings and reduces construction risk during the current construction programme. Sirius has retained the right to develop its Bran Sands facility at a future date of its choosing, which it continues to plan to do in due course. As the Company looks to expand beyond the initial production levels, the agreement with RBT provides the flexibility to continue to utilise RBT and to bring on-stream Bran Sands. This provides Sirius with maximum shipping flexibility and opportunities for berth optimisation for the long-term.

Product Storage Facilities

Via YPPPL the Company has also secured a 30 year lease (with rights to renew) over 40 acres of land adjacent to the RBT port facilities and the Company's Bran Sands port site. This land will be used to develop the Company's finished product storage facilities. Locating the storage facilities adjacent to both port locations provides the Company with a more efficient loading circuit by substantially decreasing the distance from the warehouse (previously planning to be located at the materials handling facility at Wilton) to the ship loader. The Company received planning permission from Redcar Cleveland Borough Council for locating the storage facilities on the RBT site on 30 April 2018. "

"ESI, now part of Stantec, have been retained by Sirius Minerals to provide specialist groundwater modelling services since 2013. Initially employed to provide technical support to the Environmental Statement (ES) and planning application, we are now assisting with water-related construction and design matters."

Sirius has entered into binding take-or-pay supply agreements with each of Eiliseng and YSA for the resale of POLY4 into certain southern and northern provinces of China. Both agreements have 10-year terms which run from first production and pricing mechanisms linked to relevant product benchmarks that are consistent with the Company's existing portfolio of agreements.

In China, government enforced changes in agricultural practices and planned farm consolidation will support the drive to restore soil efficiencies through the adoption of more balanced and environmentally sustainable fertilization practices. Sirius has conducted over 320 successful agronomy trials on 35 types of crop in 23 countries. These trials have demonstrated the benefits of POLY4 as a multi-nutrient fertilizer with a low environmental impact that delivers greater nutrient uptake and can improve both yield and quality.

This announcement builds on the Company's strong position in Asia, having signed multiple deals across the region with distributors including leading agri-business Wilmar Group, one of the largest and most established fertilizer buyers and distributors in South East Asia.

Taking the minimum volumes under the new Chinese agreements into account, the Company's aggregate peak contracted take-or-pay sales volumes has increased from 4.7 Mtpa to 5.7 Mtpa.

Chris Fraser, Managing Director and CEO of Sirius, comments:

"China is a key market for POLY4 and we are very pleased to have signed agreements with new customers who both have established fertilizer distribution networks and expertise relevant to their respective regions. We look forward to working with Eiliseng and YSA to establish POLY4 as a long term sustainable fertilizer for use in both of their important agricultural regions in China."

Southern China

Eiliseng is part of an established agricultural group operating with access to an extensive distribution network across key southern agricultural provinces in China. Eiliseng is committed to moving towards organic and more sustainable fertilizers in line with policy in China. The Eiliseng agreement provides for resale of POLY4 into provinces based across the south of China with potential sales volumes up to a maximum of 1.3 Mtpa by the seventh year and provides mechanics to ensure minimum volumes on a take-or-pay basis reaching 1.15 Mtpa in the peak year.

Due to its changing growth plans Yunnan Dian Huang Peony Industrial Group Co Ltd ("Dian Huang") and the Company have mutually agreed to terminate their existing agreement for supply of up to 1 Mtpa of POLY4 into Yunnan and Sichuan. Eiliseng now has the rights to resell POLY4 in these provinces and to service demand from Dian Huang.

Mr Jing Hai Shan, General Manager of Eiliseng, comments:

"Eiliseng is committed to delivering quality solutions for best practice agriculture in southern China through our distribution network direct to farmers. We are confident that with Chinese Government policy support and POLY4's unique multi nutrient characteristics that it will play an important role in meeting southern China's agricultural challenges and delivering best practice fertilization."

Northern China

YSA is an agricultural services business and strategic partner of Yantai Agricultural Means of Production Corporation ("Yantai AMP") responsible for product innovation and procurement in line with the Chinese Government's policies. YSA distributes its products through the Yantai AMP network utilising their extensive agronomic and sales support network. The YSA agreement provides for resale of POLY4 into certain provinces in the north of China. The agreement provides for a minimum volume commitment on a take-or-pay basis of 800,000 tpa in its peak year with an accelerated ramp-up schedule which has it reaching 800,000 tpa in the sixth year.

Mr Zhang Ya Bin, General Manager of YSA, comments:

"YSA and Yantai AMP are delighted to have secured the distribution rights for POLY4 in northern provinces of China. POLY4 is a unique fertilizer product that we believe will play a significant role in revolutionising farmer practices in the region and support the policy goals of China."

"Anyone who has spent a morning fossil hunting on the beach at Robin Hood’s Bay will know that North Yorkshire conceals untold riches. Some are easier to unearth than others.

Four miles inland at Woodsmith Mine, Chris Fraser has expended eight years so far trying to tap an unlikely source of mineral wealth that has been talked about in these parts for decades.

It will be at least another four years before his company, Sirius Minerals, begins to produce polyhalite – an organic fertiliser blend of potassium, calcium, magnesium and sulphur – from the site.

To get this far, Fraser, a former banker, and his team have signed rights deals with hundreds of local farmers and landowners and battled to win permission to dig in a national park. These environmental concerns have complicated an already tricky venture.

At 1.5km, Woodsmith will have Britain’s deepest mine shafts. So that extraction does not spoil the area’s natural beauty, a 23-mile tunnel is being built to transport ore to an industrial park on Teesside. There it will be processed into pellets for export from the Redcar docks, once famous for steel.

The prize is large. Sirius forecasts that the 70m (230ft) deep seam of polyhalite could last a century and yield 20 million tons a year by 2026. It has had to pre-market the stuff to convince farmers, under pressure to boost crop yields, to switch from other fertilisers.

After signing a recent deal with a Dubai-based trading company, Sirius has peak contracted volumes of 4.7m tons a year in place. Production costs are predicted to be roughly $40 a ton and some long-term supply arrangements have been struck at $145 a ton, illustrating the profit potential.

There are still numerous variables, such as the ultimate cost and timing of the project, how it is financed, and the vagaries of the global resources market if competition from other producers steps up. But what many regarded as a flight of fancy appears to be creeping closer to reality. If Sirius can pass some key milestones in the next few months, the shares, up by 50pc since February, should move further ahead.

The biggest test is pinning down support from the banks. Fraser secured phase-one funding of $1.2bn in 2016 so that he could begin digging. Now he needs a further $3bn, split roughly between bank debt and government support.

Sirius is making positive noises about this. A group of banks has been carrying out due diligence since the spring, with good responses received so far. The company will detail its financing plan when it has commitment letters in place and expects everything to be tied up this year.

To give lenders some comfort, Sirius needs to secure buyers for another 1.8m (0.8) tons of polyhalite per annum, and has conversations in Europe and Brazil ongoing. Meanwhile, it has already won pre-approval from the UK Guarantee Scheme, a government programme that supports infrastructure projects. As the biggest Northern Powerhouse investment, you imagine that politically there would be no problem here.

If Sirius can succeed with marketing and financing, it comes down to building Woodsmith on time and on budget. Paul Smith, an analyst at WH Ireland, the broker, believes the construction risks are mitigated because of the existence of the Boulby potash mine, built nearby 50 years ago. Any infrastructure project benefits from precedent.

There are pinch points, however. Analysts at Liberum, the company’s joint house broker, assess that 2023 could be the tightest moment, although a 12-month delay that added at least $400m to targeted costs would be needed to stretch the $3bn of financing facilities. For debt repayment to become a worry, either the polyhalite price would have to fall below $80 a ton or production costs soar to $75 a ton.

As with all new mining projects, risk remains and the numbers are liable to move around. But Sirius is developing a good track record. The shares still trade at a sharp discount to their estimated net present value of 110p. This represents an opportunity to dig in."

"The Sirius Minerals Foundation has launched its latest grant giving programme, which this year focuses on increasing or developing skills in the local area.

Last year the charity gave out grants totally nearly £300,000 to local community projects.

The Foundation is now seeking applicants for grants of between £10,000 and £50,000 from organisations promoting skills projects. The initiatives will need to serve communities along the Yorkshire and Teesside coast, from Scarborough and Whitby to East Cleveland and Redcar.

In line with two of the Sirius Minerals Foundation’s charitable objectives, bids will be considered that advance education, including supporting projects and training that benefit people by enhancing their skills. It can also potentially fund projects that help gain skills for those currently out of work.

David Archer, Chairman of The Foundation commented:

“Following the success of last year’s grant giving programme we are delighted to announce that we are making a quarter of a million pounds available to support skills projects in the area.

We hope to see bids come forward that help to provide more opportunities for local people across the area to gain new skills, as well as complement existing skills initiatives that are already in place.”

This is the second grants programme launched by the Sirius Minerals Foundation, an independent charity funded by Sirius Minerals Plc to create a lasting legacy for the local community. The initial funding awarded in December 2017 provided around £300,000 to 80 projects throughout Teesside, east Cleveland, Whitby and Scarborough.

The Foundation has received initial funding from Sirius Minerals Plc to coincide with the construction of the Woodsmith Mine and will receive an annual royalty of 0.5% of sales when the mine is operational.

“The funding that Sirius Minerals provides to the Foundation is another example of the Company’s strong commitment to the local area as it continues to develop the Woodsmith Mine and its associated infrastructure.”

"Archer Daniels Midland Company (NYSE: ADM), a Fortune 500 company (currently ranked 48th) is one of the world's largest agricultural processors and food ingredient providers, with approximately 31,000 employees serving customers in more than 170 countries. With a global value chain that includes approximately 500 crop procurement locations, 270 ingredient manufacturing facilities, 44 innovation centers and the world's premier crop transportation network, ADM connects the harvest to the home, making products for food, animal feed, industrial and energy uses.

Chris Fraser, Managing Director and CEO of Sirius, comments:

"Sirius has been working with ADM for more than four years and today's announcement further strengthens our relationship by securing ADM as an important supplier and as a customer aligning our interests for the long-term and demonstrating the significant role POLY4 will play in the world fertilizer markets."

ADM named as North American customer

Sirius entered into an offtake agreement with ADM in 2014 and subsequently replaced that agreement with an expanded agreement in 2015. The expanded agreement is for a period of seven years from commercial production and has two five-year extension options to supply volumes of POLY4 increasing to 1.5Mtpa in year five, with an option for an additional 0.5Mtpa. ADM's fertilizer division, ADM Fertilizer, has operated since 2004, growing its distribution footprint to 14 river terminals, 12 interior terminals and operating in the wholesale distribution spaces as well as the farm focus space in 2016.

Scott Nagel, President of ADM Fertilizer, comments:

"ADM was an early adopter of POLY4 and is excited to bring this multi nutrient low chloride fertilizer to our diverse end-user customers in the North American market including Mexico. The opportunity to expand our distribution into the Mexican market with a product like POLY4 supports the overall growth strategy of our business. We are pleased that Sirius sees the benefits of the efficient distribution system we have built in North America and we are looking forward to adding POLY4 to our portfolio of fertilizer products."

Binder supply agreement

The Company's granulated POLY4 product will be produced by extracting polyhalite from its Woodsmith Mine, crushing and grinding the mineral and then granulating the resulting powder using a starch binder under a patented process.

The agreement between ADM and Sirius covers three principle areas:

1. ADM will supply Sirius with binder for an initial period of five years from commencement of production with renewal options;

2. Sirius will design and construct a binder handling facility with the support and expertise of ADM, at or close to, the Company's materials handing facility in Teesside; and

3. ADM will continue its existing research and development programme on binders for POLY4 for a further period of three years. These research activities will help to evolve processes to develop the most efficient and effective methods for the granulation of POLY4.

As part of the binder supply agreement, ADM is assessing how best to service the contract for the long-term. This assessment will include looking at the potential feasibility of constructing a new processing facility in close proximity to Sirius' operations in Teesside to service both Sirius' needs as well as supply for the broader UK market.

Johan Schrijver, commercial director, ADM Starches, EMEA, comments:

"This partnership has resulted in a greater understanding of the production of the POLY4 granules and has already identified operational savings and efficiency gains. Prior to the start-up of production, joint research and development will continue to further develop the understanding of the opportunities for the end-product for all POLY4 customers around the globe."

"Howard has worked at McCain for 25 years and has significant leadership experience both globally and regionally.

For 20 years, Howard worked in McCain GB in commercial roles of increasing responsibility across Food Service, Quick Service Restaurants and Retail, with his last GB role being Food Service Sales Director.

For the last five years, Howard has worked at a global level, focused on commercial excellence and building a sustainable competitive advantage.

He has worked across the McCain global group in over 25 markets, in roles including Chief Commercial Officer, where he achieved global topline growth."

"Sirius Minerals has named Archer Daniels Midland, one of the worlds biggest agricultural commodity traders, as its North American partner.

The London-listed group, which is developing a huge potash project under the North York moors, announced three years ago a deal to supply a US group with 1,500 tonnes a year of its fertiliser, which is called Polyhalite.

However, due to commercial sensitives it had not revealed the name of its partner until today.

“The naming as an offtake partner today adds to the public endorsement of Polyhalite as a product,” said analysts at Liberum, a UK brokerage.

Sirius also said it had signed an agreement with ADM for supplies of starch, which it plans to use a binding agent.

Sirius’s potash project is the largest mine to be built in the UK for a generation.

The FTSE 250 company is currently seeking financial backing from the UK government to complete construction of the mine.

It needs to secure $2bm in debt guarantees from the Treasury to push ahead with the next phase of the project, including a 23-mile tunnel linking its mine with a port on Teesside."

Yawwwn ...

via LSE Scotman 22.04

"Chris Fraser announced to the world, a deal with an unnamed fortune 500 blue chip company in a RNS on 29th Jan 14. Then in an interview he stated it was with "the blue chip of blue chippers". A bit of digging & up came loads of companies which were blue chippers. But "the blue chip of blue chippers" accolade went only to ADM.
They are a massive company and at the time doing around 20 billion USD per annum more than their nearest rival. They have many fingers in many pies & fleets of ships, trains, trucks & probably a plane as well. Their distribution network (funnily enough, mentioned in todays RNS) is collosal. How better to get a product to a global market?
The company (SXX) were well under way with the R&D of Poly4 & one of the trials was Oil Palm.
A bit of digging into oil palm & what it meant to ADM along with the potential for Poly4 & the bells rung out loud.
Palm oil is seen as a bad thing for the environment & the cause of large swathes of the rain forest to be slashed & burned & orangutans to be killed & that’s not a good label to have hanging over your business. So, ADM were forcing a zero deforestation policy upon their clients. Wilmar is their arm in that market.
We are still waiting for the results of the oil palm trials. I believe that given the timespan that this trial is being based on Poly4 being IMO used as a starter fertiliser, so will obviously take time to bear fruit. No doubt if Poly4 proves successful in producing more oil from less trees, hence less deforestation, (& it should prove successful through the micro nutrients within Poly4) then that will be a massive boost to all involved in the oil palm business, will assist with ADM's policy & could even be hailed as a guardian of the rain forest. How great would that be?
Sirius Minerals from inception have wanted to be away from the cartels of Canpotex & Belaruski. Of course, Canpotex are a major supplier of ADM, so it was no surprise for them wanting to remain on good terms with their suppliers, hence the anonymity within the TorP."

"“The majority of our team at HQ are from the local area. We have got our own skills programme to try and encourage the development of the right kinds of skills. We have a big focus on STEM and on trying to help enrich the curriculum in schools and colleges throughout the area. We do that to benefit all of the businesses in the area.”

“We aim to hit the first polyhalite in 2021 and be in full operation as quickly as possible afterwards.”

Sirius Minerals’ polyhalite project in North Yorkshire could help the UK to address the challenges and opportunities of the post-Brexit world, according to the scheme’s supporters.

A report on the economic case for the polyhalite mine, which was written by the specialist consultancy Quod, concluded that the project could permanently add up to 17 per cent to North Yorkshire’s economic output.

The report also concluded that the £316m annual running costs will stimulate local supply chains.

Mr Edmunds said the project also provided opportunities for businesses to establish a base close to the mine.

He added: “Aside from the construction roles you would have on a project like this, the jobs are very varied and wide ranging.

“We are a FTSE 250 business based in Scarborough and we have all the corporate functions that go with a business like that from finance and IT to PR (public relations), HR (human resources) , design and engineering.”

Mr Edmunds, who has been involved in the project since it was first proposed in 2011, said Sirius was trying to keep its destiny in its own hands as much as possible.

He added: “But transport infrastructure is key in places like Scarborough and there is a big push in making sure young people who are coming out of schools and colleges have the right skills. There needs to be a healthy balance between those two.

“Failures in the train system are hugely frustrating. It has a day to day operational effect on us. We have international investors and visitors coming to see us and if they can’t get the 45 miles from York to Scarborough it can be a problem for us. It puts people off potentially investing in the area. We are being let down.”

""The Woodsmith Mine near Whitby will create jobs for generations to come."

That's the call from Jake Berry, the Minister for the Northern Powerhouse, as he visited the facility yesterday (Monday 20 August.)

He added that breakthrough projects like the one being spearheaded by Sirius Minerals, is a great thing not just for the Yorkshire Coast, but for Britain as a whole.

Jake said:

"The vision shown by Sirius Minerals is talking about creating jobs, not just for the next two, five or ten years, but there's 100 years of the polyhilate, here under the ground, which will create jobs here in Whitby for generations to come.

The Northern Powerhouse is about creating that environment where businesses, like Sirius Minerals, can grow and create better, long term, more highly paid jobs.

I do not want the future for young to be, as it has been for many years, that if you want a career, you live in the north, study at one of our great universities, but feel the best place to go and get a job is in the south of England."

"The monument includes earthwork and buried remains of a World War II bombing decoy site. It is located on a gentle east facing slope on Sneaton Moor, 5.5km from the North Sea coast. The primary purpose of the site was to divert enemy bombers from targets on Teesside, particularly the important chemical and steel-making centre at Middlesbrough 45km to the north west. The monument was one of a series of decoy sites protecting the city and was also part of a wider network of defensive measures protecting other targets on the north east coast. The site was under the direct control of No 80 Wing RAF which co-ordinated the sophisticated communications network established to monitor the movements of enemy aicraft and alert the personnel at the relevant site. The day to day operation of the site was maintained by RAF Middleton-St-George. The personnel staffing the site were housed in tents and Nissen huts in woodland 1.5km to the north west. It is believed that similar units in the northern area were staffed by one sergeant, two corporals, 17 airmen and one electrician. The first currently known reference to the site is dated 15th October 1941 and the last 8 December 1943. The site was scaled down and decommissioned by 1944 when the threat from enemy bombers had faded. The area was then used for military training for the build up to the D-Day invasion of continental Europe in 1944: tank tracks from these activities still survive extending north-south across the monument and the surrounding moorland. In common with most decoys for large urban targets, the Sneaton Moor site operated two versions of the decoy principle. One code-named `QL' simulated urban lighting, which included street lighting, lights from open doors and flashes from tram wires, and also industrial lighting such as furnace glows, dock and railway lights. The other, code-named `Starfish' simulated different types of bomb damage. This was achieved by igniting different types of fire in separate areas, each defined by a firebreak trench excavated around it. At Sneaton Moor the surviving remains are primarily associated with the Starfish decoy. The firebreaks, which enclosed the fires, survive as clearly identifiable earthworks. They take the form of shallow ditches measuring up to 1.5m wide and 0.75m deep, each describing a roughly circular shape. There are seven of these enclosures ranging in size from 40m to 100m in diameter. They extend over an area approximately 400m by 300m. Each of these enclosures was sub-divided into sections which contained the different types of fire in use. Fragments of concrete and brick from decoy equipment and pieces of coal from the fires can be found in at least one of the enclosures. Remains of the QL decoy are less prominent. The equipment used to achieve the lighting effects were a range of simple devices most of which were free standing and were cleared away after the war leaving little surface trace. The various elements of the site were linked by access roads. These were camouflaged with soil and turf and may survive as buried features. The decoys were operated from a concrete shelter thought to have been located 1.3km to the north west of the firebreaks. This shelter can no longer be accurately located."

"The Company marked another major milestone in the development of its £3.5bn polyhalite mine near Whitby today, as it commissioned its new Vertical Shaft Sinking Machine ("VSM"), which will start hollowing out a 360m deep shaft that will allow the cconstruction of the 23 mile tunnel that will transport mined ore to Teesside.

Children from nearby Sleights Primary School unveiled a plaque with the name of the machine, having won a competition between local schools. Isaac, Freddie, Joe and Owen, from years 5 and 6, chose the name ‘Bessy’, as it means Oath or God and will protect the machine and people using it. The naming tradition dates back to the 1500s when miners prayed to Saint Barbara to protect them from the dangers underground.

“Using this innovative cutting edge machine is proof of our determination to use the best, most effective engineering solutions to build this mine,” said Chris Fraser, CEO and Managing Director. “It’s great that we could get the school kids involved too. Making a positive impact in the community is hugely important to us and we hope this project will inspire them to become the engineers and miners of the future.”

The 75 tonne machine will be used to excavate the first 120m of a 360m deep access shaft for the mineral transport system. Once the shaft is complete, a tunnel boring machine will be lowered into the shaft, assembled in a cavern at the bottom and sent north towards Teesside. Two other machines will dig south from Teesside and from Lockwood Beck, and all meet up to complete the tunnel.

“The children were delighted to win the naming competition and really excited to come along today,” said Sleights Primary School Head, Scott Grason. “We really want them to understand what’s going on with this project on their doorstep and how important it is. We all look forward to watching it grow and grow in the years to come.”

“Starting to dig the shaft for our mineral transport system is another important sign of progress for our project,” said Chris Fraser. “We are already well progressed with construction of the foreshafts at the mine, we broke ground at our Teesside site earlier this summer, and we now number over 180 full time staff and 400 construction contractors.”

Sirius Minerals Plc ("Sirius" or the "Company") announces that it has agreed an amendment to the Minerals Royalty Deed entered into with Hancock British Holdings Ltd ("Hancock") in October 2016 (the "MRD"). Pursuant to the amendment, Hancock has agreed to a drawdown in relation to the US$250 million royalty component of the MRD, with the proceeds provided no later than 19 September 2018. The US$50 million equity component of the MRD will be provided once stage 2 financing commitments are obtained to fully fund the initial 10 Mtpa development of the North Yorkshire polyhalite project (the "Project"). The royalty drawdown provides sufficient liquidity to fund the project into Q2 2019 when the proceeds of the stage 2 financing will be required.

The royalty component of the MRD entitles Hancock to a five per cent royalty on gross revenues from the Project payable on the first 13 Mtpa of production and one per cent on revenue from volumes thereafter ("Royalty"). The Royalty is secured over the assets of the Project, with such security to be fully subordinated to the stage 2 financing senior debt security once established.

Pursuant to the amendment, Hancock will have the right to observe the board meetings of Sirius upon funding the royalty component. Upon funding of the equity component, Hancock will have the right to appoint a Director to the board of Sirius. At such time Hancock will be the holder of approximately 200 million ordinary shares, equivalent to four per cent of the Company's existing issued share capital. Should Hancock dispose of any of these shares they will no longer have the right to appoint a Director to the board.

Chris Fraser, Managing Director and CEO of Sirius, comments:

"The drawdown of the Hancock Royalty is another important milestone as we develop into a leading fertilizer business. We are delighted to have an experienced partner in the mining industry aligned to Sirius and one that has a growing, long term agricultural interest. The long-term nature of the royalty investment is well aligned to the underlying characteristics of this world-class, long-life asset."

"The telecommunications mast – which will be operated by Northern Power Grid – will allow power to be exported from the mine site, where there is a drop in demand. In such circumstances, it will allow NPG to remotely direct electrical power to other locations and, in doing so, help avoid tripping the mine site’s connection grid. As shown on the enclosed plan, the mast is to be located to the north east of the NPG kiosk, on the western side of the mine site’s perimeter fence. This has been identified as the optimum location for the mast, given that it can provide a clear line of sight to the NPG Repeater Mast in Whitby, whilst keeping its height to aminimum and avoiding the need to clear any trees.

The mast itself is to be a 15 metre high matrix, self-supporting climbable mast, with an aluminium aerial at the top. At its base, the mast will be earthed at 3 corners and will connect to the nearby NPG kiosk via underground ducts. Whilst the entirety of the mast will be finished in a RAL 6008 colour, the aerial will need to retain a clean aluminium finish so as to avoid radio waves being obstructed."

Erm, in other words any excess power to the mine will be distributed on the local network ... ie Whitby.

"We are excited to be entering into this long-term partnership with Sirius to deliver POLY4 into Brazil and other key markets of South America. The supply agreement provides Cibra with access to a unique multi-nutrient product that will play an important and valuable role in one of the fastest growing fertilizer markets in the world. POLY4 will change the shape of the fertilizer market in South America and Cibra will be at the heart of driving the growth and adoption of this innovative sustainable product across the region."

Chris Fraser, Managing Director and CEO of Sirius, comments:

"We are delighted to have signed these supply and investment agreements with a leading player in the South American fertilizer market with a proven track record and ambitious growth plans. Cibra is a perfect partner for distributing POLY4 into this key market, where trials have demonstrated how it can significantly enhance farming economics. The Cibra offtake agreement takes us beyond our targeted 7 Mtpa and is a major step forward as we look to complete Stage 2 financing and building our global fertilizer business."

Still in LA LA land ... the complicated bit :-)

"The Cibra Group

Cibra is part of the Omimex Group, a privately held independent fertilizer and energy group based in Fort Worth, Texas and engaged in the production of fertilizers in Latin America through the Cibra Group Companies. Cibra is a top six fertilizer distributor in Brazil with annual revenues of approximately US$500m. Cibra operates one Single Super Phosphate (SSP) plant, nine blending plants, a distribution center and has operations and warehouses in multiple key ports across Brazil. Cibra holds a market share in Brazil of approximately four per cent.

Supply Agreement

The Supply Agreement provides for resale of POLY4 on an exclusive basis into Brazil, Bolivia, French Guaiana, Guyana, Paraguay, Surinam, Uruguay and Venezuela, and on a non-exclusive basis into Argentina, Chile, Colombia, Ecuador and Peru. The initial contract term of seven years may be extended for two additional five-year periods.

Minimum contracted take-or-pay volume commitments under the Supply Agreement increase to 2.5 Mtpa by the seventh year following commencement of commercial production. The Supply Agreement contains provisions which allow Cibra to roll forward and roll back a small proportion of take-or-pay volumes between contract years.

Pricing terms include a minimum commitment price that is linked to relevant product benchmarks, as well as a unique downstream price participation mechanic which enables Sirius to benefit from higher realized POLY4 prices for the duration of the contract. Pricing to be received by Sirius under the Supply Agreement is expected to be broadly in-line with other offtake agreements in the early years of supply, with the potential to realise higher pricing sooner than the Company's existing supply agreements.

Cibra Strategic Investment

The acquisition of the 30 per cent interest in each of the Cibra Group Companies is expected to include the following benefits:

· access to key markets for the long-term growth of Sirius;

· ability for Sirius to participate in the strategic direction and marketing strategy of the Cibra Group; and

· protection for Sirius' route to market.

Following completion of the acquisition of the equity in the Cibra Group Companies management will remain unchanged, however under the shareholder agreements Sirius will have the right to appoint a director and Chris Fraser will join the boards of each of the Cibra Group Companies. In line with an investment of this size and nature, certain strategic matters relating to Cibra Group Companies will require unanimous approval by the parties and the shareholder agreements also contain typical pre-emptive rights, transfer protections and rights and change of control protections. The Sirius shares issued to the shareholders of the Cibra Group Companies will be subject to a lock-up period of 12 months. Completion of these arrangements are subject to the satisfaction of certain conditions precedent and are expected to take place in the coming weeks."

"NEW DELHI, Oct 5 (Reuters) - Russia’s Phosagro has struck a deal to supply 2 million tonnes of fertiliser worth $1 billion to India by 2021, it said on Friday, adding that supplies would rise further if India cancels a 5 percent duty on Russian fertiliser imports.

India, the world’s second largest consumer of crop nutrients after China, fulfils nearly 90 percent of its demand for phosphate-based fertilisers from imports.

The new agreement pertains to shipments between 2019 and 2021 and “will increase the volume and expand the range of phosphorus-based fertilisers supplied to India”, Phosagro chief executive Andrey Guryev said in a statement.

Since 2016, Phosagro, one of the world’s largest producers of phosphate-based fertilisers, has supplied about 1.2 million tonnes of product to India.

Phosagro also said in the statement it has reached an agreement with Indian Potash Ltd (IPL), India’s largest importer of mineral fertilisers, and Russia’s RDIF sovereign wealth fund to consider investments in the Russian fertiliser sector.

“We invite our Indian partners to take part in the construction of new plants in the Russian territory with us,” Guryev said.

The unveiling of the deal was timed to coincide with Russian President Vladimir Putin’s visit to India on Friday.

Phosagro, which competes with other global fertiliser producers such as U.S. firm Mosaic, hopes the new supply deal will make it more competitive in the Indian market, which has huge potential for further consumption growth, the Russian company said.

It added that it had asked the governments of both countries to discuss the potential cancellation of India’s 5 percent import duty on Russian fertilisers.

Russia supplies 1.5-1.8 million tonnes of fertilisers, mainly potash-based, to India a year. However, Russian supplies account only for about 8 percent of India’s fertiliser imports, which are mainly sourced from Canada, Israel and China. (Reporting by Vladimir Soldatkin, Polina Devitt, Rajendra Jadhav and Natalia Shurmina; writing by Polina Devitt; editing by Jason Neely and Jan Harvey)"

"A group of young carers, supported by local charity Scarborough and Ryedale Carers’ Resource, have taken part in a project with Sirius Minerals to learn about life in a large company and the different career pathways available to them.

The secondary school students, who all care for a relative, visited the company’s head office and the Woodsmith Mine site over a four-week period where they spoke to staff across a range of disciplines.

The project involved them taking part in practical tasks to help them develop their employability skills, including team work, communication, presenting and problem solving.

Helen Cowton, activities and development worker for the charity, said: “Our young people juggle school with the daily responsibility of caring for loved ones and many have little time to consider their own futures.

“Each day can be very challenging for them, which can result in low confidence, so coming to Sirius has been a fantastic experience for them. It’s been a great opportunity for them to experience the workplace for the first time, present in front of an audience and learn a host of transferrable skills.”

“We’re delighted to be announcing this programme and delivering on our commitments to provide 50 apprenticeships in this phase. This builds on the extensive engagement we already do with schools and colleges to help encourage young people into careers focused on science, technology, engineering or maths.”

The four-year apprenticeship to train Advanced Engineering Technicians will be run in partnership with Tees Valley training provider, the TTE Technical Training Group.

It will focus on developing a sound knowledge of electrical, mechanical and instrumentation engineering principles and putting these into practice.

The first two years will be delivered both at the Sirius Woodsmith Mine site offices in Whitby, and the TTE facility in Middlesbrough.

Transport will be provided to both sites. Apprentices will continue the remaining two years of their training with Sirius Minerals in preparation for long-term engineering technician roles in installation and maintenance.

Informal information sessions will be held in Scarborough, Whitby and Middlesbrough over the coming weeks, where potential applicants will have the opportunity to find out more about the programme and speak to representatives from Sirius and TTE.

The first two events will take place between 6pm – 7.30pm in Scarborough on Wednesday 5th December at Sirius Minerals, Resolution House, Lake View, Eastfield, YO11 3ZB.

And in Whitby on Monday 10th December in the Northern Lights Suite, Whitby Pavilion, West Cliff, YO21 3EN.

A further session will be held in Middlesbrough from 6pm – 7.30pm on Thursday 13th December at TTE, Edison House, Middlesbrough Road East, South Bank, TS6 6TZ.

The programme is open for applications until April 2019, when successful candidates will be invited for a skills assessment and interview.

“We’re excited to be working with an industry-leading training group able to provide opportunities to people across the area. If you’re a bright and ambitious team player with a strong work ethic, and good communication and problem-solving skills, we want to hear from you.”

TTE Technical Training Group is the UK’s leading provider of technical training to the oil and gas, process, manufacturing and engineering sectors, and offers training in its state of the art engineering training facility in Middlesbrough.

Steve Grant, CEO at TTE said:

“We are delighted to expand our apprenticeship offer and look forward to working in partnership with Sirius Minerals on such a significant project that will create much-needed jobs in the region.”

"Chief Executive Chuck Magro, asked whether Nutrien intends to balance its desire for higher prices with an effort to keep competitors out, said “that’s exactly the way we think about it.”

Nutrien’s idled production represents 11 percent of current global operational capacity and will be deployed once prices approach levels that would encourage new mines, he said.

“There will be a price in the global market, that once we get there, you will see Nutrien put more tonnes into the market because the demand is there. We will not be shy,” Magro told Reuters.

Prices are well below such a level, he said, declining to identify it.

Granular potash sells for an average $331 per tonne in Brazil, as of Aug. 17, up 25 percent year over year, according to Mosaic data.

BHP likely needs prices in Brazil of around $400 per tonne to realize a reasonable return on the Jansen mine, said Bernstein analyst Jonas Oxgaard. Nutrien will need to keep prices below that level to avoid “waving a red flag in front of the BHP bull,” he said..."

"“In a conference last week, CFO Kobi Altman admitted that ICL is currently in a ‘wait and see mode’ at Boulby and would ‘probably try to exit’ polyhalite if Sirius is successful (as we expect it will be) in raising its Stage 2 financing,” read a note to clients.

“The reason is that ICL’s stated strategy is to be a (cost) leader in all its key business areas, whereas if Sirius is successful, ‘[ICL] will not be able to be [a leader]’.”

"The original plan was for the five shafts to be built by diaphragm wall techniques but early issues with cutting tools clogging led to a change of approach.

“Our focus is all on the end date and enabling other parts of the project to get started quicker,” says Clarke. “With the change of contractor to take the shafts to their final depth from AMC, which was going to use conventional drill and blast to take the shafts to depth to DMC and its SBR approach, we wanted to fast track the early work to bring DMC on site earlier too.

“If the diaphragm walling work had progressed at the speed it is now, we may not have changed our approach. However, the innovations that we are using give us greater certainty over timescales.

“We are pushing the boundaries of existing technologies and bringing different techniques together in combination to create the best result possible.”

Pooleman describes the diaphragm wall work as “quite a task that has been fraught with challenges”.

Nonetheless, when Bauer completes its shaft work at the site, it will have installed 7km of diaphragm wall panels."

Further to the announcement on 17 September 2018, Sirius Minerals Plc ("Sirius" or the "Company") announces the completion of the acquisition of a 30 per cent equity interest in each of the Cibra Group Companies for 95,000,000 fully paid ordinary shares in Sirius (the "Strategic Investment"). As previously announced, the Strategic Investment is linked to a supply agreement with the Cibra Group Companies for the supply and resale of POLY4 into Brazil and certain other countries in South America. As part of the Strategic Investment shareholder arrangements, Sirius has elected to appoint Chris Fraser to the board of both Cibra Group Companies with immediate effect.

An application has been made for 95,000,000 ordinary shares in the Company (the "Relevant Shares") to be admitted to the premium listing segment of the Official List of the Financial Conduct Authority (the "FCA") and to trading on the London Stock Exchange plc's main market for listed securities, and dealings are expected to commence at 8.00 am on 27 November 2018. The Relevant Shares will rank pari passu in all respects with all existing ordinary shares in the Company. The Relevant Shares are subject to a lock up period of 12 months."

"“I believe that during the nine years that the travellers have been accommodated on the land .. the impact upon the settled community has been reduced from that previously experienced when the travellers occupied land without consent.

I am satisfied that the site is fit for the intended purpose and provides the only realistic solution with regards to addressing the ongoing issues raised by the annual travellers horse fair held in Seamer. No viable alternative site has been identified that would meet the needs of the traveller community and the settled community.”

"“How do we ensure that the future constitutes the sum of the will of humanity?” he asked. “And so, if we have billions of people with high bandwidth link to the AI extension of themselves, it would actually make everyone hyper-smart.”

Musk said he believes the symbiosis between man and machine could take place within a decade — and that humanity is already on the path of merging the two.

“You kind of have this already in a weird way,” he said. “You have a digital tertiary layer in the form of your phone, your computers, your watch. You basically have these computing devices that form a tertiary layer on your cognition already."